Administration September 29, 2011

Public Pensions See Assets Grow in Second Quarter

September 29, 2011 (PLANSPONSOR.com) – U.S. public pension fund assets grew 17.6% in the second quarter from a year earlier, reports Bloomberg.  
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According to the news report, the U.S. Census Bureau reports that assets of the 100 largest public-worker pension plans rose to $2.77 trillion by the end of June from $2.36 trillion a year earlier. The gains were driven by increases in U.S. stocks, corporate bonds, and international securities.

The advance pushed the assets to their highest level in three years, Bloomberg said.

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The pension funds earned $51.4 billion on investments during the second quarter, while employee and government contributions also rose. Compared with the first quarter of this year, the assets were up by 1.3%, the worst performance since they slipped during the second quarter of 2010, according to the Census Bureau.

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